"Now why kick me out and millions of dollars of investment just to put a green box there? I just don't get it."

Mr Burke believes the $100 million set aside by the Government will be more than enough to provide adequate compensation to the industry, because he says the boundaries have been worked out to minimise the disruption on the sector.

In terms of recreational fishing, Mr Burke says there will be no significant impact given the location of the reserves.

Funding from the package will begin to flow from mid next year, ahead of the new restrictions coming into force in 2014.

Until that time, there will be no "on the water" changes for fishermen in the affected areas, even though the new reserves have been officially declared now.

Queensland-based National Party Senator Ron Boswell, who has been an outspoken critic of the Government's plan, says the declaration will be "very damaging" to both recreational and professional fishing.

He says the compensation on offer is inadequate, and has described the plan as a win for the Greens.

"(Fishermen) know that this won't be the end - the Greens will come for more and more and more, and (fishing) will get progressively squeezed out as time goes on," Senator Boswell said.

'No repeal'

Opposition Leader Tony Abbott says he is concerned that the marine reserves are not based on strong science, that the compensation package is inadequate, and that there has not been enough industry consultation.

Despite that, he says the Coalition would not repeal them if it wins the next election, but is promising a comprehensive review of the policy.

"We support strong environmental protection, but it cannot be at the expense of the livelihoods of people who make their living from the sea," Mr Abbott told reporters in Sydney.

"And I think most Australians would be very disappointed if the result was that we eat more imported seafood.

"We think that these marine protected areas that have just been announced should be reviewed, not repealed."

The Coalition's Environment spokesman Greg Hunt says the fact that there has been no change in the boundaries since the draft policy was announced earlier this year shows the industry consultation was just a "sham".

"We have proposed legislation to make the creation of marine parks accountable to the Parliament so as the process is completely transparent and a full social and economic impact assessment is conducted," Mr Hunt said in a joint statement with the Coalition's Fisheries spokesman Senator Richard Colbeck.

Environmentalists are pleased with today's announcement, saying it will help protect the marine ecosystem for future generations.

"The proclamation of the world's largest national marine reserve network in Australian waters will go down in Australian history as an economically and environmentally sustainable decision, with enormous social and conservation benefits," the Australian Conservation Foundation's Paul Sinclair said in a statement.

"Although the national marine reserve network is an achievement for Australians to celebrate, there is more work to be done to protect our coastal way of life."